Moody's Investors Service said it has downgraded the city of Columbus, Ga.'s general obligation limited tax rating to Aa2 from Aa1, affecting $127.6 million in debt.
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It also removed the stable outlook.
The downgrade to Aa2 reflects the city's narrowed, though still healthy, reserve position and potential reductions at Fort Benning, which has historically anchored the city's tax base but may cause near term pressure on the local economy.
The rating also reflects the city's manageable debt burden, below average wealth levels, and a sizable tax base.
